Berkshire bought 1,277,256 shares of the global pizza delivery chain, which were worth $550 million at the end of the quarter. Domino's shares soared on the news after hours on Thursday, which is typical when Buffett's company buys a new stock. Domino's finished the after-hours session up 7.8%.

Warren Buffett's Berkshire Hathaway bet on Domino's Pizza and Pool Corp. last quarter, and both stocks fit well in its portfolio.

Berkshire Hathaway initiated these new positions during the third quarter even as it cut back its holdings of big names like Apple and Bank of America.